Ford and Geely Settle on Terms of Volvo Sale

December 23rd, 2009 admin

Ford and Zhejiang Geely Holding Group Co., Ltd. have come to agreements about all major terms for the sale of the Volvo brand to Geely. Geely, based in China, plans to agree to a stock purchase in the first quarter of 2010, with the final sale completed by the year’s end. Ford had named Geely its preferred bidder for Volvo in October. Ford reiterated today that, if the sale goes through, it wants to continue cooperating with Volvo, but will not hold any shares in the company. The deal still has to be finalized by executives of the involved companies and approved by government regulatory agencies. We should have more details this spring. Related posts: Ford Chooses Chinese Automaker Geely as Preferred Bidder for Volvo 2009 Volvo


Originally posted on Car and Driver

 
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  1. June 2nd, 2010 at 22:33
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    Ford and Geely Settle on Terms of Volvo Sale Buying Car Guide comI bookmarked it.2010-6-3

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